The United States does not have socialized medical care. If you have no health insurance coverage, you have to pay for health care out of your own finances at the time of service. This can run into many thousands of dollars for serious illnesses.

You cannot predict what your medical bills will be. In a good year, your costs may be low. But if you become ill, your bills could be very high. If you have health insurance, many of your costs are covered by a third-party payer, not by you. A third-party payer can be an insurance company or, in some cases, it can be your employer.

Everyone knows that the health insurance market is competitive. With dozens of major companies employing thousands of agents to sell their products, the task of finding promising leads has become increasingly difficult. New procedures, better technology, more effective medications, and higher quality medical equipment have all driven the cost of health care up in recent years. Unfortunately, these increases are then passed on to the consumer, often making health insurance unaffordable for too many.

What should be covered?
A good health insurance policy contains several types of coverage:

• Hospital expense insurance pays your room, board, and incidental services costs if you're hospitalized.
• Surgical expense insurance covers surgeons' fees and related costs associated with surgery.
• Physicians' expense insurance pays for visits to a doctor's office or for a doctor's hospital visits.
• Major medical insurance offers extremely broad coverage with a very high maximum benefit that's designed to protect you against losses from catastrophic illness or injury.

• Prescription drugs
• Preventive care
• Mental health benefits
• Maternity care
• Vision care

You may get health insurance through a group plan at work or through another group affiliation (a school, a club, etc.) or by purchasing an individual plan on your own. By purchasing an individual plan on your own, you may even be able to customize the health plan. Shop online to compare rates from several companies to find the best plan and rate to meet your needs.

1. Group Health Insurance Plans
Most Americans get health insurance through their jobs or are covered because a family member has Insurance at work. This is called group Insurance. Group health insurance is generally the least expensive kind. In many cases, the employer pays part or all of the cost. You also will be able to get health insurance under COBRA if your spouse was covered but now you are widowed or divorced. If you were covered under your parents' group plans while you were in school, you can also continue in the plan for up to 18 months under COBRA until you find a job that offers you your own health insurance.

2. Individual Health Insurance Plans
If your employer does not offer group health insurance, or if the insurance offered is very limited, you can buy an individual health insurance policy. You can get fee-for-service, HMO, or PPO protection. But you should compare your options and shop carefully because insurance coverage and costs vary from company to company. Individual health insurance plans may not offer benefits as broad as those in group health insurance plans.

Tips for Purchasing Health Insurance

If you decide to buy more insurance, shop carefully and buy a policy that you can afford and offers the benefits you think you need most. Here are some helpful tips for you to keep in mind when shopping for health insurance:

1. Shop Carefully: Policies differ as to coverage and cost, and companies differ as to service. Contact different companies and compare the premiums before you buy.

2. Don't Buy More Policies Than You Need: A single comprehensive policy is better than several policies with overlapping or duplicate coverage.

3. Consider your Alternatives: Depending on your health care needs and finances, you may want to consider continuing the group coverage you have at work, joining a managed care plan, buying a Medigap policy, or buying a long-term care insurance policy.

4. Beware of single disease insurance policies: There are some polices that offer protection for only one disease, such as cancer. If you already have health insurance, your regular plan probably already provides all the coverage you need. Check to see what protection you have before buying any more insurance.

5. Policy Delivery: The insurance company should deliver a policy within 30 days. If it does not, contact the company and obtain in writing the reason for the delay. If 60 days go by without a response, contact your state insurance department.

6. Be Aware of Maximum Benefits: Most policies have some type of limit on benefits. They may restrict either the dollar amount that will be paid for treatment of a condition or the number of days of care for which payment will be made.

7. Know With Whom You're Dealing: A company must meet certain qualifications to do business in your state. You should check with your state insurance department to make sure that any company you are considering is licensed in your state. This is for your protection. Agents also must be licensed by your state and may be required by the state to carry proof of licensure showing their name and the company they represent.

8. Keep Agents' and/or Companies' Names, Addresses and Telephone Numbers: Write down the agents' and/or companies' names, addresses and telephone numbers or ask for a business card that provides all that information.

9. Look for an Outline of Coverage: You must be given a clearly worded summary of the policy. Take your time and read the policy carefully.

10. Do Not Pay Cash: Pay by check, money order or bank draft made payable to the insurance company, not to the agent or anyone else. Get a receipt with the insurance company's name, address and telephone number for your records.

1. Property Damage Insurance
This insurance covers damage to your business property.

2. Liability Insurance
This Insurance covers liability for injury to person or property caused by the company or its employees.

3. Products Liability Insurance
This Insurance covers liability for injury caused by the company's products.

4. Vehicle Insurance
This Insurance covers liability for injury caused by the company vehicle and employee vehicles when used for business purpose.

5. Business Interruption Insurance
Covers expenses incurred if the business is interrupted by fire or other events, as well as lost profits.

6. Key man life Insurance
A life insurance policy payable on the death of a key employee

7. Director's and Officer's liability Insurance
Indemnifies officers and directors of the company for expenses incurred as a result of acting on behalf of company

The best health insurance plan for you is the one that gives you the greatest flexibility and the most benefits for the lowest cost. Unfortunately, there's no such thing as a standard health insurance plan. As you would when making any major purchase, you'll need to shop around and get several quotes before choosing a plan. Here are a few points to consider:

• What co-pays, deductibles, and coinsurance requirements apply?
• How much freedom do you have to choose your own health-care providers?
• Does the plan cover the health services that you need?
• Does the plan cover the health-care providers you're currently using?
• Does the plan offer family, as well as individual, coverage?
• Does the plan cover pre-existing conditions? If so, is there a waiting period? (The average waiting period is three months to one year.)
• Does the insurance company have a good reputation in the industry and a positive rating from a major ratings organization
• Managed Care
• Third-Party Payer

When searching for a health insurance plan or after one has already signed up, the plan terms, or descriptions of provisions and coverage can be hard to understand. When one is reviewing the terms they often confusingly say, "What does that mean?"
Below is a list of common health insurance coverage terms to help everyone understand more about what their health insurance plan has to offer:

Deductible
The deductible refers to the amount of money that the insured would need to pay before any benefits from the health insurance policy can be used. This is usually a yearly amount so when the policy starts again, usually after a year, the deductible would be in effect again. Some services, like doctor visits, may be available without meeting the deductible first. Usually there are separate individual deductible amounts and total family deductible amounts.

Co-insurance
This is the amount that would need to be paid by the insured before the insurance pays and in addition to the deductible. Some health insurance plans will let the insured use some services with just the coinsurance payment, like visiting the doctor, even before the deductible is met.

Co-payments
This is another term used for, or in place of, coinsurance.

Out-of-Pocket
This is the cost one would pay out of their own pocket. An out of pocket expense can refer to how much the co-payment, coinsurance, or deductible is. Also, when the term annual out-of-pocket maximum is used, that is referring to how much the insured would have to pay for the whole year out of their pocket, excluding premiums.

Lifetime Maximum
This is the most amount of money the health insurance policy will pay for the entire life. Pay attention to individual lifetime maximums and family lifetime maximums as they can be different.

Exclusions
Something that is not covered by the insurance policy and specifically stated so in the policy contract. (For example: coverage may exclude your serious and willful misconduct; or your failure to comply with a health or safety law or regulation.)

Pre-existing Conditions
This is something someone had before obtaining the insurance policy. Some plans will cover pre-existing conditions while others may completely exclude them and, in addition, some health insurance plans will cover pre-existing conditions after a certain time period.

Waiting Period
This is the time one would have to wait until certain health insurance coverage is available. A specified amount of time beginning with the onset of the disability during which the benefits are not payable.

Coordination of Benefits
If the insured has available two or more sources that would cover payment for certain conditions, such being under a spouse's insurance plan along with their own, the insurance company would not pay double benefits. In this case the health insurance company would coordinate benefits to make sure each plan pays a portion of the service.

Grace Period
This is the amount of time one has to pay their health insurance premium after the original due date and before insurance coverage would be canceled.

Quality is hard to measure, but more and more information is becoming available. There are certain things you can look for and questions you can ask. Whatever kind of health insurance plan you are considering, you can check out individual doctors and hospitals.

Many managed care plans are regulated by federal and state agencies. Indemnity plans are regulated by state insurance commissions. Your State Department of Health or insurance commission can tell you about any plan you are interested in.

You can also find out if the managed care plan you are interested in has been "accredited," meaning that it meets certain standards of independent organizations.

Another approach is to ask the plan how it ensures good medical care. Does the plan review the qualifications of doctors before they are added to the plan? Plans are supposed to review the care that is given by their doctors and hospitals. How does the plan review its own services, and has it made changes to correct problems? How does the plan resolve member complaints?

Some plans and independent organizations are also beginning to produce "report cards." These reports often include satisfaction survey results and other information on quality, such as if a plan provides preventive care (for example, shots for children and Pap smears for women) or if the plan follows up on test results. Report cards may also include information on how many members stay in or leave the plan, how many of the plan's doctors are board certified, or how long you may have to wait for an appointment.

Report cards can only give you an idea of how a plan works and may not give a full picture of a plan's quality. Ask plans if their activities have been reported in report cards developed by outside groups.

Once you select your health insurance, it is important to use it wisely. The Health Service Fee that you pay along with your tuition bill covers most services you usually do not make any additional payment. Use the hospital emergency room only in the case of a true emergency. Stay healthy. Eat a balanced diet, get plenty of rest, exercise, and have an annual physical examination. Take the time to read your insurance policy carefully before you need to use it. Your insurance company may refuse payment if you receive treatment for an excludable condition, or if you do not follow insurance protocol for treatment. Ask your health care provider for a cost estimate for any treatment you might receive, especially prior to surgery or hospitalization. Then consult with your insurance company about the coverage you might expect. By taking these measures, you can keep your health care costs down.

Get the Most from your insurance Plan
You will get the best care if you:

Stay Informed

• Read your health insurance policy and member handbook. Make sure you understand them, especially the information on benefits, coverage, and limits. Sales materials or plan summaries cannot give you the full picture.
• See if your plan has a magazine or newsletter. It can be a good source of information on how the plan works and on important policies that affect your care.
• Talk to your health benefits officer at work to learn more about your policy.
• Ask how the plan will notify you of changes in the network of providers or covered services while you are part of the plan.

• Ask your doctor about regular screenings to check your health. Discuss your risk of getting certain conditions. What lifestyle choices and changes might you need to make to lower your risks or prevent illness?
• Ask questions and insist on clear answers.
• Ask about the risks and benefits of tests and treatments. Tell your doctor what you like and dislike about your choices for care.
• Make sure you understand and can follow the doctor's instructions. You may want to bring another person along or take notes to help you remember things.

• Write down your concerns Start a health log of symptoms to help you better explain any health problems when you meet with your doctor.
• Set up health files for family members at home. This will help you to monitor care. Include health histories of shots, illnesses, treatments, and hospital visits. Ask for copies of lab results. Keep a list of your medicines, noting side effects and other problems (such as other drugs and foods that should not be taken at the same time).

After you review what benefits are available and decide what is important to you, you can compare plans. Many things should be considered. These include services offered, choice of providers, location, and costs. The quality of care is also a factor to think about.

1. Services
Look at the services offered by each plan. What services are limited or not covered? Is there a good match between what is provided and what you think you will need? For example, if you have a chronic disease, is there a special program for that illness? Will the plan provide the medicines and equipment you may need?

Find out what types of care or services the plan won't pay for. These usually are called exclusions.

Few indemnity and managed care plans cover treatments that are experimental. Ask how the plan decides what is or is not experimental. Find out what you can do if you disagree with a plan's decision on medical care or coverage.

2. Choice
What doctors, hospitals, and other medical providers are part of the plan? Are there enough of the kinds of doctors you want to see? Do you need to choose a primary care doctor? If you want to see a specialist, can you refer yourself or must your primary care doctor refer you? Do you need approval from the plan before going into the hospital or getting specialty care?

3. Location
Where will you go for care? Are these places near where you work or live? How does the plan handle care when you are away from home?

4. Costs
No health insurance plan will cover every expense. To get a true idea of what your costs will be under each plan, you need to look at how much you will pay for your premium and other costs.

• Are there deductibles you must pay before the insurance begins to help cover your costs?
• After you have met your deductible, what part of your costs is paid by the plan?
• Does this amount vary by the type of service, doctor, or health facility used?
• Are there co-payments you must pay for certain services, such as doctor visits?
• If you use doctors outside a plan's network, how much more will you pay to get care?
• If a plan does not cover certain services or care that you think you will need, how much will you have to pay?
• Are there any limits to how much you must pay in case of major illness?
• Is there a limit on how much the plan will pay for your care in a year or over a lifetime? A single hospital stay for a serious condition could cost hundreds of thousands of dollars.